The United Arab Emirates' (UAE) exit from Opec has reduced the group's share in global crude oil production and production capacity, according to data released by the US Energy Information Administration

The UAE, no longer tied by Opec quotas, could push crude production north of 4 million b/d next year.

UAE oil exports surge to 85% of pre-war levels amid Middle East tensions. Crude oil reaching a new all-time high by September 30 at 8.5% YES.